Hyseq Inc

Hyseq Inc. of Sunnyvale agreed to buy Variagenics Inc. for about $55.9 million in stock to accelerate development of a drug to dissolve blood clots and develop other products. Hyseq would exchange about 1.65 shares for each Variagenics share, the companies said. That values Variagenics, based in Cambridge, Mass., at $2.22 a share, more than double Friday's closing price of 96 cents. Shares of Hyseq fell 27 cents to $1.08 on Nasdaq.

Hyseq Inc. of Sunnyvale agreed to buy Variagenics Inc. for about $55.9 million in stock to accelerate development of a drug to dissolve blood clots and develop other products. Hyseq would exchange about 1.65 shares for each Variagenics share, the companies said. That values Variagenics, based in Cambridge, Mass., at $2.22 a share, more than double Friday's closing price of 96 cents. Shares of Hyseq fell 27 cents to $1.08 on Nasdaq.

BioSource International has asked Robert D. Weist to join its board of directors. Weist, the principal of a management consulting firm, will fill an existing vacancy, and the board is expected to accept him for a permanent term at the company's annual meeting in July. Weist has nearly three decades of experience in management and legal counsel positions in the pharmaceutical and biotechnology industries.